Escorts Agri Machinery sold 8,816 tractors in September 2021, MoM Volume up by 54.9 percent

Escorts limited Agri Machinery products segment (EAM) in September 2021 sold 8,816 tractors as against 11,851 tractors sold in September 2020, a drop of 25.6 percent year-on-year and growth of 54.9 percent on month-on-month basis.

Domestic tractor sales in September 2021 was at 7,975 tractors as against 11,453 tractors in September 2020. With record monsoon activity in September, this year's rainfall deficit has largely been recovered, which augurs well for industry in the upcoming months. However above normal rainfall in September has delayed harvesting in some parts of the country resulting in a two-to-four-week delay in the onset of the festive season demand. All other macroeconomic factors remain favourable. Inflation in various commodity prices continues to be an area of concern in the short term.

Export tractor sales in September 2021 was at 841 tractors against 398 tractors sold in September 2020, registering a growth of 111.3 percent.

Shares of Escorts Limited, was last trading in BSE at Rs. 1480 as compared to the previous close of Rs. 1488.5. The total number of shares traded during the day was 62503 in over 3469 trades.

The stock hit an intraday high of Rs. 1519.4 and intraday low of 1476. The net turnover during the day was Rs. 93483972.

Source : Equity Bulls

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